On Wall Street, the S&P 500 dipped by 0.2%, closing at 5,597.12, while the Nasdaq Composite fell by 0.3% to 17,816.94. The Dow Jones Industrial Average also eased by 0.2%, ending the day at 40,834.97.
The yield on benchmark 10-year U.S. Treasury bonds decreased ahead of a key speech by Federal Reserve Chair Jerome Powell on Friday, which is expected to be the highlight of the week for financial markets. The yield was at 3.81% last night, down from 3.88% the previous day.
Asian shares mostly declined on Wednesday, following a slip on Wall Street that ended an eight-day winning streak, the longest of the year.
Japan’s Nikkei 225 dropped 0.8% in morning trading to 37,741.53. Australia’s S&P/ASX 200 fell 0.5% to 7,958.40, and South Korea’s Kospi edged down 0.1% to 2,692.81. Hong Kong’s Hang Seng Index declined 0.9% to 17,348.77, while the Shanghai Composite slipped 0.3% to 2,858.98.
In Tokyo, Japan’s Finance Ministry reported a trade deficit of 621 billion yen ($4.3 billion) in July, driven by a nearly 17% increase in imports due to surging global prices. Japan’s exports also saw growth, rising 10%, particularly to destinations such as the U.S. and China.
In the UK, it appears to be shaping up as one of the quietest days of the year for releases, which is typical for August.
